Binance Coin price rises across $20: What’s next?

The Binance Coin price line is currently under a bullish momentum. The cryptocurrency saw itself above the $20.40 mark on the 03rd of March. izore is a trading view analyst who believes that the cryptocurrency will gradually move towards the $26 mark for its next price target. BNBUSD trades with a day’s range of $19.5853702 — $20.1603300.

1-Day Binance Coin Price Analysis (03rd March)

Binance Coin Price Chart

Binance Coin Price Chart by TradingView

The cryptocurrency lay its price line straight until before noon on the 03rd of March when the price saw bulls towards the $20.40 mark. The cryptocurrency reached a day’s high of $20.40109 US Dollars, after which it came down towards the $19.40 mark closer to the end of the day. Before the day ended, the BNBUSD pair saw a price recovery and the cryptocurrency rose towards across the $19 mark where it currently lies with a trading value of $19.9173833 US Dollars.

The 20-Day Exponential Moving Average (EMA) saw the day’s closure at $19.9582922, while the 50-Day Moving Average (MA) closed at $19.9374692. At the same time, the Relative Strength Index (RSI) stands at 61.77.

Binance Coin: predictive analysis

izore is of the opinion that the Binance Coin / US Dollar pair is set to head upwards on the chart, and there are two price targets for the cryptocurrency.

Binance Coin Featured Price Chart

Binance Coin Price Chart by TradingView

The first target lies right above the $23 mark, while the second target for the cryptocurrency, as shown in the chart, lies way above the $26 mark. For this scenario, the entry price is at $19.35, whereas the stop level lies below the $17.5 mark.

Featured Image by Patrick Fore.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.

Leave a Comment